DAX INDEX FUTURES (FDAX1!), H4 Potential for Bullish Rise
Type : Bullish Rise
Resistance : 14213
Pivot: 13782
Support : 13670
Preferred Case: On the H4, with price moving above the ichimoku indicator and along an ascending channel , we have a bullish bias that price will rise from the pivot at 13782 where the pullback support and 23.6% fibonacci retracement are to the 1st resistance at 14213 in line with 78.6% fibonacci retracement and 100% fibonacci projection .
Alternative scenario: Alternatively, price could break pivot structure and drop to 1st support at 13670 where the pullback support, 61.8% fibonacci projection and 50% fibonacci retracement are.
Fundamentals: As the US Consumer Inflation eases, we have a bullish view on DAX Index .
Resistance : 14213
Pivot: 13782
Support : 13670
Preferred Case: On the H4, with price moving above the ichimoku indicator and along an ascending channel , we have a bullish bias that price will rise from the pivot at 13782 where the pullback support and 23.6% fibonacci retracement are to the 1st resistance at 14213 in line with 78.6% fibonacci retracement and 100% fibonacci projection .
Alternative scenario: Alternatively, price could break pivot structure and drop to 1st support at 13670 where the pullback support, 61.8% fibonacci projection and 50% fibonacci retracement are.
Fundamentals: As the US Consumer Inflation eases, we have a bullish view on DAX Index .
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results